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Your World With Neil Cavuto

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Us 12, Obama 6, Mr. Morton 5, Eric 3, The Union 3, Jeff 2, Chantix 2, Mike Wallace 2, Israel 2, Campbell 2, Iran 2, Washington 2, Taco 2, Louisiana 2, Lisa 1, Mccain 1, Marco Rubio 1, Ford 1, Closed Captioning Services , Inc 1, Explosionive 1,
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  FOX News    Your World With Neil Cavuto    News/Business. Money tips  
   from Wall Street. New. (CC)  

    January 29, 2013
    1:00 - 2:00pm PST  

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to volunteer to help those in need. when a twinge of back pain surprises him. morning starts in high spirits, but there's a growing pain in his lower back. as lin grow longer, his pain continues to linger. but after a long day of helping others, he gets some helpful advice. just two aleve have the strength to keep back pain away all day. today, jason chose aleve. just two pills for all day pain relief. try aleve d for strong, all day long sinus and headache relief.
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>> that's it for studio "b." don't forget to log on to the shep's page. your world is next. you know who is filling in for neil? eric bolling. don't miss fox & friends tomorrow morning either. have a great day. >> what happened to vegas? not staying in vegas. when it kim comes to immigration reform, the president is going the full monty and fast. but what about the border? welcome, everybody. bolling, inl cavuto. unlike the senate plan that requires improvements in border security first, the president says he wants the reforms now and will force a vote on his own plan if congress doesn't act
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right away. how are these competing plans stacking up? jamie, first blush, they look similar, except president obama says, let's get this done now and the senate plan says, let's secure the bordzer. >> they are broadly similar. if you read the outlines, you can see much of the same language and the same issues brought up. but there are two area where is there is some difference, you might say significant difference, may be enough to scuttle the bill without a compromise. the number-1 issue is this commission, to make sure that the border is secure before the plan gets implemented. in the gang of 8, they mention a plan that they released yesterday. they mention a commission of border, state governors and community activists that would have to -- issue recommendations that the border was secure before the plan is implemented. the president doesn't mention this at all. what he has said in his speech
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today and in the report that he issued to reporters is that he's already cracked down on the immigrants coming over and that there is no mention of anything happening to be ratified before this pathway to citizenship begins. now to be fair, in the senate gang of 8 tseems like there is a certain different interpretations between the democrats and the republicans on that provision as well. jeff flake and marco rubio seem to think that's a strict rule there that this group has to -- ratify this before this provision gets into place, while some of the of the democrats and maybe even senator mccain is not so sure that's so strict. >> jamie, the president flew on air force one -- i don't know between 9 and 10 hoursats $180,000 an hour. could have cost almost $2 million to do this. why didn't he say, senate, go for ti like what you are saying, instead of waiting to secure the border, let's do it now. he also pointed out, if
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lawmakers hold this up, he was going to force or push a vote. >> right. this is a campaign rally, in many ways. he wants to make sure that he gets some of the credit for the bill, if it passes, at least trying to push for the bill, if it fails. so this is where the campaign rally is. i think there are a lot of people in congress who are worried that he will -- be a poison pill to this thing. there are republicans and democrats in the senate working on this right now. there are a lot of agreement among some of them. they are afraid the president might hijack the process and kill a deal that might be emerging. >> is there anything eye have to jump in a minute here, but is there anything that can be done to secure the border first? isn't it obvious that that -- whatever happens, that has to happen first. >> well, senator rubio and senator flake have been pretty clear that they will not support any bill that does not provides for securing the border first. so that is something that is top on their agendasm i am not sure he will be able to pass a bill with republican support without
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making that provision clear. >> we will leave this there, thank you very much. >> thank you. >> it is not just about the border. adding 11 million legal citizens may boost taxes, but taxpayers could be slapped with an even bigger bill. we will hear from the other side of this tomorrow. but to the center for immigration studies, now, steve, tell us, it is going to cost a lot of money to alout -- by the way, can i take a step back, are we agreeing it's 11 million? i have heard as high as 20 million. but 11 million is the number. how much is this going to tax. >> i do think it's 11 million. i am a demongraphy and i do focus on this. they are not lazy and came to get welfare. we think a major came as adults and hadn't graduated the equivalent of high school in their own country.
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25 to 30% had only a high school education. so with legalization, they're still going to make wages commensurate with modest levels of education, which means they won't pay much in taxes and workers like that, especially when you look at legal immigrants, they tend to use a lot in social services, about half of all legal immigrants with a high school education, those households access the welfare system. >> tell us how they do that i. that's legal immigrants. >> so in other words, if we allow the 11 million to get some form of -- i don't know, amnesty or legalization, we are going to be paying, how? in which ways? >> one thing, that become eligible for the earned income tax credit and the additional child tax credit. right now, illegal immigrants don't generally get it. there is fraud. but they total over $70 billion, illegals are excluded and now we can expect them to get $10 or
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$15 bill wherein from the programs. it goes to workers who don't make much, people with large families in particular benefit from the program. that's one example. other examples, you wouldn't be eligible for medicaid or obamacare, now with obamacare or medicaid, the health insurance program for poor people, now you would be eligible. >> that's a big number. that could be as high as tens of billions of dollars. we have to leave it there. thank you, sir. >> thank you. >> we put more boots on the ground, on the southern border than at any time in our history. today, illegal crossings are down nearly 80% from their peak in 20. >> the white house claims border security is better than ever. is it? a lawsuit just allowed to move forward, claims the administration is ordering border agents to look the other way. in response, alabama republican
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senator jeff sessions is calling for the head of i.c.e., john morton, to resign. >> mr. morton can no longer effectively serve at this post and more importantly, there can be no comprehensive immigration reform as long as he's the person in charge with enforcing it. >> that's the senator with us. thank you for joining us, senator sessions. tell us about it. so, is the problem only with mr. morton and i.c.e.? >> well, it's a big part of the enforcement problem. i.c.e. is the interior enforcement and i.c.e. offices association has unanimously voted no confidence in his leadership. they say he's hostile to them and their efforts to enforce the law and as you have indicated, they haveue sued him with their lawful duty to enforce the law and the court is allowing that suit to go forward. he has issued regulation and directive after directive to
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hamper their ability to enforce the law. >> i.c.e. agents want to stop people from coming across and they have been told from the top, from mr. morton, look the other way, let them go -- is that the accusation? >> essentially, yes. i.c.e. has the authority inside the border and they have been directed in any number of different directivesives and proposals from mr. morton, including the implementation of the -- dream act, that was rejectedded three times by congress, they just refused to enforce the law. he ordered that. it's caused quite a morale problem in the i.c.e. agents. they are very dissatisfied and frustrated. i don't know see how we can be confident in any sense that if we were to be in charge of in new law that he would enforce it any better. i think it's time for him to go. the president needs to create some sense of confidence that his people will follow the law and enforce the law.
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>> yeah, i think that would be -- to go a long way, at least in confidence in maybe the president's proposals. sir, we would like to read a statement from i.c.e., i.c.e. remains focused on smart immigrant enforz and the criminal aliens and the recent immigration law violators. do you believe what they are telling us? >> well, no. essentially, they have been -- constricting the ability of the agents, we have example after example of being disciplined for trying to -- even people who have assaulted the officers were directed to be released because it violated the president's policies. and that's what they have been told time and again. it's like, they really -- it's a sore spot here -- >> so -- sir, so, yeah, let me get this straight. is the idea, the thought here is that the president has a mandated that has trickled down to mr. morton, who has said to
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his border agent, if you see people crossing the border, unless they are breaking the law, hurting someone, killing someone, bringing drugs over, look the other way? >> there are two aspects here. the border patrol has the primary responsibility on the border. it's the i.c.e. agents who have the primary responsibility inside the interior of the country. and that's where so many problems have occurred. >> all right. we are going to leave it there. senator jeff sessions, thank you. we got your picture back. thank you, though. >> thank you. >> check this out. the dow closing in on 14,000. we haven't been this high since october of 2007. if it crosses, we will let you know. >> no gotcha questions here. critics asking, what is softer today, steve crost's interview with barack obama and hillary clinton or his defense of it. have you to hear this to believe
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it. who knew that nearly $16.5 trillion in debt and we are making this stuff up. >> i am not going to keep cutting the discretionary budget, which by the way, is not out of control, despite what you hear on fox news. [ lisa ] my name's lisa, and chantix helped me quit.
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>> democrat senators digging in on spending -- >> i am not going to keep cutting the discretionary budget, which by the way is not out of control! despite what you hear on fox news. >> well, we couldn't get the senator, but we did get charles. charles, we are making it all up. >> by the way, what is she talking about? do we call lawmakers out on discretionary spending? >> this is some elementary form of reverse psychology. here's the bottom line. look, i am on the fox business network, every single day. i cannot recall the last time
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anybody made an issue -- a big issue about discretionary spending, except, eric, in the sense that lawmakers don't have the guts to at least attack those things, when will they get the guts to talk about the real problem. we talk about the real problem, the real challenges which we are are entitlement, but how can you go after those, if you can't stop shrimp on a treadmill? >> we talk about that because, you know, it's a small amount or $20 billion -- in the grand scheme of things, it doesn't seem like a lot. but it's a lot of money and it has to start somewhere. >> you are right. that's where you begin. we know, if it was easy, we would have done it already. the fact of the matter, the political will is that small, if you can't stop the small things like that, the crazy practicals that happen every year, the pork barrel stuff, the bottom line is, we send lawmakers to loot
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the joint. they have done an amazing job. louisiana from 1990 to 2009, they got $200 billion more. >> that's katrina stuff i. i am talking purely transfer payments. you know, there are states bike new jersey that send a lot more money to d.c. than they get back. >> who gets back, louisiana is the taker, rather than a maker, is what you are saying. >> absolutely. >> let me point this out. let's be political for a second. really, on the senate floor, on the senate floor, she calls fox out. >> well, if the president's calling fox out, almost on a daily basis. the gauntlet has been dropped. the shot across the bow hain has been done. we saw it after the first inauguration, it went away. because if you only have one or two media outlets that are honest and saying, let's have a fair debate about this and then gen you -- genuflecking every time you come into the room --
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>> get fox out of the way. >> we could spend mardi gras all day long. >> talk to you later. >> the only way fox isn't going to be called out jeez to ask questions like this. >> i want to talk about the hearings this week, i have had a very long day. also, how is your health? >> critics like me, calling that a softball. hear how steve kroft is defendingatism i think it's a question of fairness. i think he knows we are not going to play gotcha and go out of our way to make him look bad and let him answer the questions. >> and there have you it. thanks for joining us. have you to scratch your head. i used to watch "60 minutes" and mike wallace, people were petriified when the door opened and mike wallace was there. what's this? >> well, this is a little bit of irony, i guess for all of us, considering the president's out
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there, pointing his finger at fox news. unfortunately, you know, look, i don't like to scream liberal media bias. i think there are so many outlets, but the problem is when you have, you know, shows like "60 minutes" that are portraying themselves as impartial when they clearly have a serious left-leaning point of view, it's ridiculous. even kir stin powers said on fox yesterday this, sounded more like state-run television, a campaign ad. i think we can get a good laugh out of this. >> but what -- what purpose does it serve? it can't help cbs. "60 minutes" goes from what was once an investigative journalist -- i don't know, battleground, to now what it looks like is a cream puff piece for president obama when he wants to make a point. >> i think you are absolutely rightere is a point at which it backfires for the president. it's nice to have the media on
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your side, i guess. but after a while, it -- even the mainstream media, if the main ndon't think they can ask you any questions, when hillary clinton said she couldn't even talk about her interest in running for president in 2016 because it was against the law -- i mean, come on, that was a great time for kroft to say, really? push just for a moment. but they don't. people will see right through that transparency. >> we put up a quote from from president obama in an interview. it said, if a republican member of congress is not punished on fox news, or by rush limbaugh for working with the democrat on a bill of common interest, then you will see more of them doing it. what is the plan? what is the reason for calling out fox news? does he want his free way? he has a mandate to do whatever he wants and he doesn't want anyone looking in or paying attention to what he is doing? >> we have to remember that president obama is a community organizer. one thing he has done very, very well is to sort of go back to
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in-grouping and out-groh grouping. i'm sorry, but those of us here at fox are clearly in the out group. he has to be pitting americans against one another. we saw this in the election with women, with rich against poor. you know, fox against the media. i think it looks silly. but apparently, this does play well with his base. >> someone has to do it. right we have to leave it there. thank you. >> thanks. >> this guy didn't fall, but something else did and this high-wire act is hitting the middle class, hard. and how would you like to collect $1 million for only one year's work? one teacher's doing it. guess who is paying for it?
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>> tax hikes and consumer confidence taking a nose dive as payroll hikes kick n. sandra smith has the latest from the cme today. bad consumer confidence numbers? yeah. didn't look so good. in fact, there are consumer confidence in the u.s. plunged in january to its low elf level in more than a year, as americans saw their tacks spike and paychecks shrink. the confidence index dropped to 58.6 last month. that was the lowest reading since november, 2011. the key reason for this plunge, economists say the higher taxes made americans feel less optimistic about the next six months and congress reached a deal to prevent taxes from rising on most americans, but they did allow a temporary cut in social security tax to expire. so for a worker earning dr. 50,000 a year, take-home pay will shrink by $1,000.
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and that is really shrinking consumer confidence in america right now. by the way, this survey was conducted through january 17. that was right when most of us started to notice our lighter paycheck, making matters worse, taxes are rising at a time when wages and salaries are nearly stagnant. so the combination is expected to hurt consumer spending and further slow economic growth. but that stock market keeps on rallying, despite what is very bad numbers coming out of the economy. >> i spent a lot of time in trading pits. i knew, when the news is bad, but you look and see the dow jones, up 70 points on its own trajectory. >> that's right. >> leavet it there. >> thank you. >> a different type of labor pain, involving uni, the new york city school teacher is on track to collect $1 million for basically doing no work at all.
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she got kicked out of the classroom in 1999, after confessing to sexually harassing his students. his punishment, an $85,000 a year rubber room, where unfit teachers go to avoid students. this is a loophole. is it fair? $85 grapped -- why can't we fire him? >> nice work if you can get tright? because of one word -- tenure. he can't be fired because he's a tenured teacher, when they misbehave, they go in the rubber room -- we are not supposed to call it a rubber room because they do have to do administrative duties. we are paying him $85,000 -- >> rubber room is offensive? >> apparently, apparently. it must be. so he gets to stay there now. he will earn almost $1 million by the end of this year, doing nothing. >> not only tenure.
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>> right. the sexual harassment or harassment against the student -- it was proven that he was never -- his rights were not read to him. so he got off too that technicality. >> he was never read miranda, though he brought a little girl into a closet and admitted to it. >> his defense is criminal procedure, even even administrative prier westbound a job. if procedure is not followed, he gettings to keep his job -- >> they are telling me it was an empty classroom, not a closet. but nonetheless, but he gets to keep his job. >> i wish there was a criminal case. the prosecution would have six months to take him to trial. now they have 13 years to let this guy sit around because he wasn't read his rights. >> who defends the teacher? the union? >> the union! all the way. the union defends all the people who get sent to the administrative rubber room is what i guess i am going to call it. on average, it takes 19 months
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from start to finish, when a teacher gets called onto the cart for this. >> with regard to a fitness for duty, i am surprised they didn't do that. because he suffers bipolar disorder, so he may be disabled and we can't discriminate. i don't understand, if he is not fit to do the job he is hired to do -- >> bye-bye. >> right. >> the union membership in the country has been sliding, it goes down, 17%... over the last 20 or 25 years or so. and teachers unions, the roles are going down. fewer and fewer people are putting up with this type of behavior. >> thankfully, so. but there was a proposition on the docket, where teachers could opt out of being unionized and in its place get a much, much higher salary. their job would be performance based and teachers done want to do that. they don't want to be to have a performance-based job criteria. every job should be performance
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based. >> that will helped with the quality i. unions say forget twe don't want performance base, we want tenure, put your time in and you are good to go. >> it's not right. in this economy, teachers like this should not be collecting $85,000 a year. >> we all pay for this, right is this i have to assume, the cop who is arrested him -- it's their fault, though, right. >> is this their fault? he didn't have his righted read -- this happened in 1999! 13 years later, he is still collecting -- >> how long wree to pay this guy? >> apparently, he is going to get to retire there. this is completely ridiculous. we could pay two excellent teachers to be actually doing what teachers do best. >> where the mistakes lies, his rights were not read, if the police officer, they were acting within the scope of their employment and the government takes the liability and he gets to be working iefnlt i don't
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call sharpening pencils working. >> how do we know? the cop said he didn't? >> that's what the research has shown. -- >> i can see a gray area where a cop gets together with the teacher or criminal and says, i will say i didn't read you your rights. >> normally, they do have to sign that they were read their rights. >> this is administrative, very few rules in administrateir laugh. >> what is this guy doing? >> sharpening pencilsism come on. >> he gets to do administrative things. what does that mean? >> can one of you tell me where why it's just sharpening pencils. isn't it good to keep him away from the kids? >> i think he is just not exposed to children, filing papers or preparing reports or helping with the board of education, things that i. cleaning garbage cans, i would prefer that. >> $85,000 for whatever he is doing is too much. >> no matter. i have to leave it there.
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thank you so mitch, again. iran claiming it sent this monkey safely into space, time for america to quit monkeying around, don't you think? while everyone else seems headed in the wrong direction, ford is not just going forward, it's going further. introducing the entirely new ford fusion. with a hybrid that's the most fuel-efficient midsize sedan in america. it's an entirely new idea of what a car can be.
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>> isn't this bananas, iran safely launched a monkey into space and it launched this video to prove it. if true, this puts them one step closer to manned space flight, as americans move farther from
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it. and my next guest has a real problem with it. let's stay on this, why is it relevant that the iranians put a monkey into space? >> if they truly did -- >> i read it. you said that, why? >> it seems the best technology that the iranians seem to be mastering is photoshop. we have seen the missile shots that have been photoshopped. you know, i want to see that monkey and i want to see it alive. but, if they truly succeeded in launching a monkey into space, it means they can put payloads such as a nuclear warhead into space. >> it should be concerning that they are put being a monkey -- honestly, do we care if it's a monkey? if they are shooting missiles like north korea, we should be concerned. >> they don't care that they are shooting monkeys into space, they are testing their technology. it's a real problem for israel. i want -- if they can put a monkey fif miles into space, they can get to israel.
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another distance. >> and someone said that the monkey parachuted safely with the last page of the rocket. but it is relevant. if you get something living in space, the atmosphere's fine, they can breathe, how long before they get a man in flight -- if that's true? >> if it's even their goal. obviously, we all believe and know why they are developing this technology, it's a warhead payload. so i don't know that their goal is a manned program. but if they can put a monkey in space, i suppose a man is just behind. >> here's a dumb question. it says if -- don't we know? don't we have -- drones and satellites and spy satellites on them? >> yeah, dwrea. we have a lot of telemetry on this, whether or not that made it to 75 miles. the only thing we have is the iranians saying this is what they did and they have a monkey.
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>> tell me about your technology. >> it's a new technology we have developed to consolidate the irnet. we allow to you f any portion of any web site and consolidate that onto a home page called inca binka so you can visit 10, 30, 40 web sites at once. >> so i can visit my twitter and my facebook page simultaneously on your site. >> in fact, i got an education from your twitter feed this morning. what was the word you used? >> malappropism. >> yes, yes. so we -- any web site that you can navigate to you, you can frame it, put it on one location and we update it, actatively. so any time that site changes, we change it on your site. we made an internet time machine for it. so you can slide back in time on any of these sites. >> okay. free to be.
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>> free to you. >> yes, absolutely. inkabinka.net. >> forget it, why the food police got taco bell to stop this ad. it was necessary or another needless nanny state play? we report, you decide. >> mission call to mission "a" for a final go/no go call. for real this time of, we are on step 7.212: we have entered our two-minute hold. >> it has been inhibited. >> copy that. >> verify and lock. >> lock. >> enter idle phase. >> three, two, one...
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>> nine has launched. no code situation. standing by for captions. siemens. answers.
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>> all right. there you are. you are looking at the senate floor. we have secretary of state newly minted secretary of state, john kerry, passes it is senate. he will be the next secretary of state. forget live mas, how about no mas, a controversy forcing the fast-food giant chain to pull this ad. >> veggies on game day is like punting on fourth and one, it's a copout and secretly, people kinda hate you for it.
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taco 12 pack, six crunchy tacos and six lobos tacos. >> it was pulled because a health group said it mocked vegetables. that was town hall dot-com. katie, now we have to be p.c. to vegetables. i think it's proabl appropriate today because it is taco tuesday -- >> what does that mean? >> it means lots of places are giving deals on tacos. so if you are upset about the nanny state saying you can't upset vegetables, get your tacos. look, this was an ad pulled by taco bell, putted on putted on d pulled because the center for science in the public interest put pressure on taco bell saying this is going to force people to make bad choices. which is not true. everybody's been at a party where they serve a vegetable tray and they are dipping interest a ranch dressing that isn't so healthy. i don't think that's blaming the
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tacos as the best move. >> nobody's complaining about the do rateo tacos. >> they are complaining about the variety pack. so this ad was promoting the 12-pack variety pack, that people can take to super bowl parties, at the end of football season, the beginning of march madness, will be here soon for college basketball. but the center for science and the public interest wants to you eat veggies in sports parties, which i think is, frankly, unamerican. >> what happened to personal responsibility? why are companies caving to the food police? >> this group was the first big nutrition group to be named the food police. they have been around for decades. the answer is, companies shouldn't be caving to these people. we know what is good for us and what is bad for us. these interest groups would rather have taco bell not around. so taco bell needs to do what is best for them and the public interest groups can lobby congress to regulate our food, which they have done successfully for years and
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years. >> in new york, we have a mayor who tells how much salt we can eat, how big the soda and is how many calories we are eating and this group is telling taco bell what their ads have to look out. >> taco bell caved in. so we have the interest groups lobbying the government to tell what did you say our kids should be eating, what is allowed to be on the menu at school. what kind of calorie counts our food has, leaving kids at school hungry, but thaw are attacking private companies. we saw an outcry at the olympics with mcdonald's spontsorring them. it's the olympic, all those people are eating well. mcdonald's is a good sponsor for that event. it's personal responsibility about what goes into your mouth. i think it's okay to have a taco at a party. >> i didn't hear them complain about this inaugural luncheon with 5- or 6,000 calories.
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>> no. they are -- their forte' is to attack private companies and they go to the fda. i am sure there are some in the obamacare bill to punish the companies -- >> all that. all of those rules and regulations cost businesses quite a bit of money, cost the consumers. we will leave it there. >> thank you. >> after the ruling, we are still paying, despite a court deciding the president's labor board recess appointments are unconstitutional. taxpayers are funding their salaries. roy blunt is calling for those checks to stop. but democratic strategist and senator said, let the courts decide. sir, look, they were ruled unconstitutional appointments. they have to leave. do they not? you are going to talk to america and tell them we need to pay these bozos' salaries? >> yeah, no.
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i think the final arbiter what have is constitutional and unconstitutional, as you know, is the united states supreme court -- >> not the federal court. have you to go to the supreme court to believe it. everything should end up in the supreme court. >> i am saying they are going to appeal this, to the supreme court. i think if you want the judicial process to have integrity, i would suggest that senator blubt and senator alexander would assert patience and not try to make political hay -- >> mark, lets me get this straight. a federal court isn't good november enough for you? >> i think that the process is going on. as i mentioned, it's going on appeal. but let's take a minute, eric and look at the decision itself. this is overturning 150 years of judicial precedent, where republican presidents, democratic presidents have all made these times of appointments -- >> hold on, mark. let's not be -- let's talk about what happened. president obama used a little trick. he apoigned the people while the
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senate was still -- was not on recess. they were gaveled in. they had not gone on recess, but yet, he appointed these guys. >> it was on break, it advertised that it was going on break. the court found it on a technicality to say, hey, look, we are not on recess, technically. but as you know, we have been at war for 10 years. the senate hasn't declared war as it's constitutionally obligated to do. it doesn't change the reality of war. a senate recess is a recess, whether or not they call it that. >> you have been very vocal -- the federal court found that this was unconstitutional. we are paying the salaries. i shouldn't have called them bozos, it's not their fault. it's president obama's doing it while they were technically in session. if you buy a car from someone -- you willingly buy a car that you know is stolent and police find out, do you do you think you should get your money back when the police get the car back. >> i think you are making an
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analogy from between a stolen car and a public official. >> a law was broken and now these guys think they should be paid. >> it's been broken for 150 years by republican presidents and democratic presidents. >> this is judicial activism. you come out against the left, this is judicial act vismg on the right. >> i don't think so. i think the senate republicans gaveled in, which kept the senate in session, and president obama decided to ignore the fact that the senate was in session and put three people in place. >> you are making the kind of interpretation that the senate republicans made -- that the court is make ago. >> is there another one -- >> it's an interpretation and it's based on a technicality here. i think the wisdom of the supreme court will be what we all defer to, ultimately. so let's get the bee out of our bonnet and just stop trying to be opportunists opportunists abd
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let it go to the supreme court, which is the logical next step. i trust that they will be expeditious in ruling on this. >> this matters, mark, because the next time president obama wants to appoint someone in recess, he does it through the proper channels. >> this is what he's done for five years, this is what president bush did -- >> doesn't make it right. >> before him. >> you can say that and those on the right will say that. but let's think about the political motivations that brought the suit. why wasn't the suit brought when president bush was nominating janice brown, a member of the d.c. courtful of appeals. it was filibustered and reapoigned -- >> i don't know. >> why are we picking -- >> i don't know, but we have to leave it there. thank you very much. >> okay. good to see you, eric. >> you too. >> we are pumping out graduates, but not the jobs. are government subsidies feeding a bubble about to burst? (announcer) scottrade knows our clients trade and invest their own way.
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>> eric: does america have a glut of college graduates? well, maybe. nearly half of all workers with a college degree has a job that does not require a college degree. stevemore says blame it on this. explosion in government subsidies that is pushing too many kids in to college. so, steve, once again, washington's good intentions having a bad consequence. >> yeah. i think there are really two factors behind this fact that college graduates can't get a job anywhere near the kind of field they want to. one is that you've got an explosion of subsidies to make college so expensive. >> eric: let me stop you there. what do you mean explosionive of custodies to make college expense sniff >> i have two kids in college. $50,000 apiece. cost of college is the biggest
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bubble in the economy, bigger than the healthcare bubble and even bigger -- i argue bigger than the housing bubble. you ask the question: is the bubble going to burst? i say yes, it is. consumers and family can't afford it. more and more students are getting degrees in sociology, philosophy, gender studies. that employers say this has no use to me. that's why you a lot of kids who spent $200,000 on college education and up to the throat in college loans and they can't get a job other than gardnegardener. >> eric: you're saying it's not preparing them for job market. >> would be related point, another big problem, there are -- relate one more point. another big problem, there are no jobs. there are people what don't have jobs and now you graduate students in the job. >> eric: tuitions are going up because clems realize there
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are grants available. they are able to raise the price. >> what will happen is in the course of two of five years, you will move more toward online education. the american families can't afford $50,000 a year for college >> eric: why aren't more kids going to trade school? >> that is a good question. if you're electrician or plumber, or trade background, you can make $50,000, $100,000 a year. why don't we have more engineers and more people who understand construction and so on? i agree with you. we need miles per hours who can do the jobs that miles per hour did for 100 years. >> eric: let's talk about the job market. we're talking about 11 million new people who may be illegal immigrants here. is that going to put more pressure on these kids who are
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going to school? >> no. immigrants create jobs. they don't take jobs. they come here and buy housing and good and services. we have been a country of immigrants for 400 years. i don't buy the arguement that the immigrants steal jobs. if we had the right policies in washington we'd have plenty of jobs for everybody in america. those who want to come here. >> eric: but they took up services. >> you travel a lot, i travel a lot. everywhere i go, immigrants do grunt work in economy. i don't know how the economy would survive without the workers. >> eric: i see 72 high on the dow. 14,000. pass the graveyard with news? >> i'm nervous. i'm not in market now. this is a bull run we have had on the market. as you know is it sustainable with the tax and regulations? i'm skeptical. >> eric: when the news is bad and market continues in the upward direction, usually it's on its way -- >> especially when you reported today consumer confidence is down. consumers aren't spending.
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can businesses sell? >> eric: steve we will leave it there. thank you. i'm heading over to "the five five." be there in three minutes. catch me saturday 11:30 a.m. eastern on "cashing in." leave it there. see you tomorrow. captioned by closed captioning services, inc in america tay we're running out of a vital resource we need
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to compete on the global stage. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ at devry.edu/knowhow. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand.